MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los...
MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los Angeles, Las Vegas and Phoenix, said R. Lawrence Montgomery, the chain’s chief executive officer.“We can’t wait,” he said. “We’re counting down the days.”The Los Angeles stores will open next spring, while the Las Vegas and Phoenix units will follow in the fall.?Montgomery added that the company recently built a distribution center in San Bernadino to service the new stores and is currently hiring and training key personnel for what is expected to be a major expansion by the Menomonee Falls, Wisc.-based moderate department store chain to the West Coast.Kohl’s also plans to open another 110 stores in existing and contiguous markets over the next two years, bringing its total to just shy of 600 units.Montgomery’s remarks came at the company’s annual meeting, which was held Tuesday at the Midwest Express Center in downtown Milwaukee.In a review of operations, Montgomery said the company continues to be on the lookout for moderately priced apparel brands that can be expanded across numerous categories. An example is Columbia sportswear, which the chain introduced two years ago and now features in women’s, men’s and children’s. ?Montgomery also singled out such recent introductions as Nine & Co., Jantzen and Oshkosh children’s wear as having potential for expansion.Kohl’s current top-10 brands — which account for 20 percent of total store sales — are Adidas, Columbia, Fieldcrest, Haggar, Lee, Levi’s, Nike, Reebok, Sag Harbor and Villager, a Liz Claiborne label.At an informal press conference after the meeting, Rick Leto, Kohl’s executive vice president and general merchandise manager, said the chain had no plans to pursue an acquisition along the lines of Sears’ recent purchase of Lands’ End. “That’s not the way we do business,” he said, before going on to label Sears’ deal an act of “desperation.”“Stores do things like that when they don’t have a developed apparel business and need a quick fix,” he said.Leto also extolled the virtues of small buying staffs, saying that even though sales have almost quadrupled over the last six years, Kohl’s has added only 10 new buyers for a total of 54. Last year was Kohl’s 10th anniversary as a public company, and Montgomery cited statistics to demonstrate the chain’s rapid growth during that time. l Revenues over the last decade have grown by about 23 percent a year and last year totaled $7.4 billion.l Earnings — which last year hit $496 million — have done even better, growing by almost 33 percent annually. l Comparable-store sales over the last decade have increased 8.4 percent a year.l A $1,000 investment in Kohl’s stock in 1992 would now be worth $37,000.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)